DOMINION’S PRODUCTIVITY

Taranaki Daily News, 31 December 1929, Page 9

DOMINION’S PRODUCTIVITY

AN INCREASE DISCLOSED.

VALUES NOW AT BEDROCK.

Wellington, Dec. 29.

Despite a sharp drop in wool prices and declining values for dairy produce, authoritative opinion in produce circles is that the New Year will see a season close which will be favourable to the farmer and the country as a whole. Wool brokers are firm in the opinion that values can fall no further and that in succeeding sales the higher quality wools in the South Island may reasonably be expected to average one penny higher than the range of prices for sales to date. Last year’s prices averaged out at 15d a lb, and while this season will probably work out at or lljd at best, it must be remembered that this was the return to the grower four years ago. Last season’s price was I.Bd below the 1927-28 prices, and pi 1926-27 the average was 12.6‘d. The 1925-26 figures were 11.9 d a lb, this being the slump year after the boom of 1924-25 touched the record of 20d a lb.

The average this season, therefore, is likely to correspond with the value?, of 1925-26, though the market carries a greater weight of wool. What is lost in wool will be in part atoned for by the country’s meat exports. While there is no indication of any recovery of wool prices, and brokers generally expect the season to close at about present values, meat exports are bound to rise sharply, especially fat lambs. This year’s lambing figures, constitute a record, and reflect the" success of the scientific farming which has been followed increasingly in the country during the past four years. Intensive use of pastures, use of topdressing, and attention to stocking up are now being felt in the meat, wool and dairy industry, all of which, show bounding production and set new records in quantities marketed. This year’s lambing figures are 11,350,000 for the whole Dominion, an increase of 1,100,000 over the previous best, and a percentage of remarkable growth, This represents an addition of one-tenth to the lambing figures of last year. No doubt it is largely due to the fact that there are now more breeding ewes in the country, and while it is neither likely nor desirable that the whole of the increase should be reflected in the shipments of meat abroad, a large increase is assured. The mere marketing of greater quantities is unlikely to assure a similar return of meat to that received last year, when the average was about IOJd, but a good average is considered as highly probable. CHEESE OUTLOOK GOOD. Dairy produce, like wool, faces a falling market, but there is the possibility of a sharp recovery before the season ends. Butter, it is agreed, is not likely to show returns similar to last year, but the future for cheese is good. A good season in Australia has followed uncertain, early returns, due to drought in New South Wales and Victoria, which was absorbing a good deal of Queensland’s exportable surplus. Queensland experienced favourable conditions for production, from the beginning of the season, so that Australia is likely to be a formidable rival this year. However, improved conditions of marketing and the creation of the standard cream, cheese which has been well received at Home are expected to make the dairying season a reasonable one. Prospects of export values, thus, are on the whole satisfactory, and the return to the country will not be much short of that received last year. Even the unsettled position of the wool market is expected to have a good ellect in the long run, as it may lead to a lengthening of the wool sale season and regulation of marketing, which will prevent the market being overstocked again.